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PoS transactions set to hit N8.96trn in May
Point-of-Sale (PoS) transactions in Nigeria are set to reach N8.96 trillion by the end of May 2026, rebounding from a slight 1.82 per cent dip suffered in April, this year. According to payment system data, PoS transactions stood at N7.70…
NCDMB to host 2026 midstream, downstream stakeholders summit in Lagos
Nigerian Content Development and Monitoring Board has announced plans to host the 2026 Oil and Gas Midstream and Downstream Stakeholders Summit as part of efforts to deepen collaboration, investment and policy engagement across Nigeria’s energy sector. The announcement which was…
Africa’s $194bn revenue gap, $89bn annual losses impose development strain
Kemi Olowu Africa’s domestic resource mobilization gap is estimated at around $194 billion annually, underscoring a deep fiscal shortfall that continues to constrain development spending across the continent, according to experts from the West African Tax Administration Forum (WATAF) and…
OML 100: TotalEnergies to displace FSO Unity with FSO Adiana by End-2027
Ziggy Ojiegbe TotalEnergies Exploration and Production Nigeria (TEPN) Limited, operator of the Joint Venture between TotalEnergies and NNPC Limited, has announced plans to deploy a new floating storage and offloading (FSO) vessel, FSO Adiana, offshore Nigeria by the end of…
Dangote’s East Africa Refinery, 20,000MW power plans signal continental expansion
Ziggy Ojiegbe Plans by Nigerian industrialist Aliko Dangote to replicate his $20 billion Lagos refinery complex in East Africa emerged as one of the defining announcements at the just concluded Africa Forward Summit hosted by the governments of Kenya and…
Nigeria-Morocco gas pipeline to strengthen AfCFTA, expanding economic integration
Frank Okon Nigeria and Morocco’s renewed push to advance the proposed $26 billion African Atlantic Gas Pipeline is increasingly being viewed by analysts as more than just an energy infrastructure project. Beyond gas exports, the initiative is emerging as a…
BOI’s 7% interest guaranteed loan scheme for West African women will boost SMEs
Bank of Industry (BOI) has said that its Guaranteed Loan (GLO), which charges an annual interest rate of 7% for businesses owned by women in West Africa, will boost Small and Medium Enterprises (SMEs) in the region. Managing Director…
Nigerian banks face $1.7bn Eurobond maturity wall stronger amid widening sector divergence
Nigeria’s banking sector is entering a key Eurobond maturity cycle with significantly improved foreign-currency liquidity conditions, stronger external reserves, and reduced near-term refinancing pressure. This is, however, as according to Fitch Ratings, the apparent stability masks persistent structural constraints…
NNPCL, NUPRC remit over N322bn, $116.9m To Federation Account in two months
Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted more than N322 billion and $116.9 million into the Federation Account within two months following the implementation of Executive Order 9. According to documents presented…
Indigenous service providers project $7bn capital to raise Nigeria’s oil, gas output by 50%
Victor Nze Indigenous oil and gas service companies in the country, the Petroleum Technology Association of Nigeria (PETAN), has projected that the sector will need about $7 billion in capital expenditure on equipment over the next four years to help…
